Crypto-twins Tyler and Cameron Winklevoss declared that Gemini crypto exchange has received approval from NYSDFS to trade Zcash, Monday.
Gemini will begin accepting deposits of Zcash starting May 19 at 9:30 AM EDT, and trading will commence May 22.
A statement released on Gemini Exchange’s blog says:
“We have been working closely with the New York State Department of Financial Services (NYSDFS) to obtain approval to offer Zcash trading and custody services to our customers as a New York trust company. NYSDFS is the first regulatory agency in the world to supervise Zcash, reaffirming their position as the leading financial regulator in the area of digital assets.”
Cameron Winklevoss, president of the Gemini exchange, revealed in a letter to Forbes that Zcash’s privacy features were part of the appeal to add the cryptocurrency to its platform.
However, to maintain regulatory compliance, Gemini will allow deposits from both forms of addresses, but only unshielded withdrawals will be permitted.
In addition to Zcash, approvals for Bitcoin Cash, Litecoin, and Ethereum classic are also in the works, according to Forbes.
NYDFS Superintendent Maria Vullo stated that the move reaffirms New York’s commitment to innovation in the global marketplace and thorough regulatory oversight will aid in the long-term growth of the industry.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Gamza Khanzadaev
Yuri Molchan
Dan Burgin
Vladislav Sopov